Brace
yourselves! Apple Inc.(NASDAQ:AAPL) is all set to launch the latest version of
the iPhone on September 12, Bloomberg
News as well as Reuters
reported on Tuesday, quoting two unidentified people.
Speculation
over the launch of Apple's new phone with a revamp in its design has been
getting rife in recent weeks, with most observers expecting the launch to take
place sometime in September.
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Apple's
last version of the product, iPhone 4S, is eating into the market share of
Google's Android-based smartphones and the buzz is that the new phone will have
a design overhaul - with a thinner body and a larger display.
The
revamped phone is also expected to work with faster long-term evolution
wireless networks being introduced by carriers such as Verizon Communications
Inc.(NYSE:VZ) and AT&T Inc.(NYSE:T), Bloomberg said quoting analysts.
The
iPhone is getting a design overhaul after a long time since there was not much
difference between the iPhone 4S and the previous version.
iPhone
is one of the company’s best-selling products accounting for 46 percent of its
total sales in the June quarter.
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Apple
is also trying to wrest the leadership status in the smartphone segment that it
lost to Samsung Electronics earlier this year and the latest version of the
iPhone might just do the trick.
Unlike
Samsung and Nokia Corporation (ADR)(NYSE:NOK) , which have frequent launches of
smartphones throughout the year, Apple confines itself to just a launch a year
and has consistently stuck with upgrading sole product, the iPhone.
Shares
of AAPL are up another 0.90% to $616.35 in the pre-open session after soaring
over 2% in the prior session. Apple's shares have risen 47 percent so far this
year.
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